In this walkthrough. the third in the series, I model a hypothetical retail development from start to finish.
00:00 - Introduction to Modeling a Simple Retail Development
01:12 - Setting Up the Summary Tab and Turning on Key Modules
02:31 - Defining Analysis Period, Start Date, and Development Length
03:31 - Establishing Valuation Assumptions Including Cap Rate Adjustments
04:33 - Detailing Project Information and Basic Assumptions
05:47 - Working on the Development Tab: Initiating Sources and Uses
07:18 - Modeling Construction Loan and Budget Allocation
08:41 - Forecasting Construction Cash Flows with S-Curve and Linear Methods
10:52 - Adjusting Operation Settings for Leasing Costs and Expenses
12:01 - Calculating Tenant Improvements and Commission Expenses
14:10 - Setting Up Operating Statement with Customized Expense Categories
14:54 - Completing Rent Roll with Tenant Details and Lease Conditions
17:04 - Modeling Future Tenant Assumptions and Concessions Strategy
20:07 - Discussing Precision and Efficiency of Excel in Real Estate Modeling
22:06 - Setting Reimbursement Rates and Tenant Pro Rata Expenses
24:42 - Future Leasing Assumptions: Tenant Improvements and Commissions
27:01 - Setting Up Rental Rates, Growth Assumptions, and Contract Rent Increases
30:17 - Filling in Operating Statement: Income, Expenses, and Vacancy Rates
33:41 - Building Residual Year Proforma and Stabilized Cash Flow Calculations
37:05 - Modeling Permanent Debt and Equity Cash Flow Assumptions
39:14 - Analyzing Investment Returns and Cash Flow Metrics for Development
41:00 - Concluding Summary with Retail Analysis and Tenant Allocation Insights
You can find the investment assumptions used in modeling this deal here: [ Ссылка ]
You can download the latest version of the model here: [ Ссылка ]
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